Position Summary: Responsible for the origination of Real Estate loans. Provides telephone coverage for all inbound real estate loan inquiries from Members.
Essential Job Functions:
- Provides world class personal service to Members by assisting with Real Estate loan products and services in a caring, friendly, courteous and professional manner.
- Comply will all requirements of the Real Estate Department's Standard Operating Procedures (SOP). Annual review and certification.
- For purchase pre-approvals, follow-up with the Member is required on a regular basis (at least once weekly, unless instructed otherwise) until the Member has made the decision to either commit to financing or not to proceed with SchoolsFirst FCU in obtaining a new home.
- Provides the loan package to the set-up team for review and pre-submission audit. Works with loan specialists, processors and underwriters to obtain all requisite loan documentation, promoting communication and teamwork.
- Conforms to compliance regulations including 3-day disclosures (TIL) RESPA, and completion of assigned ALLREG courses. Responsible for monitoring Reg-B compliance.
- Manages own mortgage loan pipeline ensuring regular follow up with the Member until the Member has made a decision to either commit or not to proceed with SchoolsFirst FCU in obtaining a home loan.
- Ensures all necessary disclosures are sent to Member according to regulations.
- Fully informs Member of all attributes of loan process and timelines.
- Advises Members of rate lock policy. Initiates Member rate lock requests.
- Collects and analyzes personal information regarding the Member's income, assets, investments and debts, using it to assess the Member's credit and financial history, as well as explain the loan process to the Member. Utilizes software to determine how much a Member can afford to borrow and be able to pay back. Submits applications using real estate's point of sale origination system.
- Provides consultative services to Members regarding credit union products and services by assessing the Member's needs, addressing their concerns and gaining agreement.
- Responsible for counseling and pre-qualifying Members for mortgage and equity loan requests from assigned Dispatch, voicemail, and Home Equity Loan referral queue.
- Makes loan product recommendations to Members, understanding various rate/point scenarios. Understands all aspects of mortgage loan origination, including product, underwriting, guidelines, compliance and documentation requirements.
- All teammembers must comply with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. Failure to do so may result in disciplinary and other employment related actions.
- Performs other related duties as assigned or requested.
Education: High School Diploma or G.E.D. required
Experience: 2 to 3 years of related experience required Mortgage and equity loan origination experience in a real estate call center environment. Knowledgeable in loan origination guidelines as published by FNMA and FHLMC.
Register with the Nationwide Mortgage Licensing System and Registry as a mortgage loan originator in accordance with the Secure and Fair Enforcement for Mortgage Licensing Act (the "SAFE Act").